BT Group plc (BT) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of BT Group plc (NYSE:BT) from a buy rating to a hold rating in a research note published on Monday.
According to Zacks, “BT is one of the world’s leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. “
BT has been the topic of a number of other reports. BNP Paribas reiterated a neutral rating and set a GBX 330 ($4.26) target price on shares of BT Group plc in a research report on Tuesday, March 14th. HSBC Holdings plc decreased their target price on BT Group plc from GBX 420 ($5.42) to GBX 370 ($4.78) and set a buy rating on the stock in a research report on Friday, April 21st. Barclays PLC reiterated an overweight rating and set a GBX 475 ($6.13) target price on shares of BT Group plc in a research report on Thursday, February 23rd. Royal Bank of Canada reiterated an outperform rating and set a GBX 465 ($6.00) target price on shares of BT Group plc in a research report on Tuesday, March 7th. Finally, Berenberg Bank reiterated a hold rating on shares of BT Group plc in a research report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $349.47.
BT Group plc (NYSE:BT) opened at 20.26 on Monday. BT Group plc has a one year low of $19.14 and a one year high of $33.50. The stock has a market cap of $40.30 billion, a price-to-earnings ratio of 16.54 and a beta of 1.07. The firm has a 50-day moving average price of $19.95 and a 200-day moving average price of $21.31.
BT Group plc (NYSE:BT) last posted its earnings results on Wednesday, May 10th. The utilities provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.88 billion. BT Group plc had a return on equity of 35.80% and a net margin of 10.29%. On average, equities analysts predict that BT Group plc will post $3.83 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in BT. Capstone Asset Management Co. increased its position in BT Group plc by 6.8% in the first quarter. Capstone Asset Management Co. now owns 163,993 shares of the utilities provider’s stock valued at $3,295,000 after buying an additional 10,420 shares during the period. FMR LLC increased its position in BT Group plc by 15.9% in the fourth quarter. FMR LLC now owns 399,758 shares of the utilities provider’s stock valued at $9,206,000 after buying an additional 54,830 shares during the period. Bollard Group LLC increased its position in BT Group plc by 1.4% in the first quarter. Bollard Group LLC now owns 46,540 shares of the utilities provider’s stock valued at $935,000 after buying an additional 664 shares during the period. Guggenheim Capital LLC acquired a new position in BT Group plc during the fourth quarter valued at $393,000. Finally, Riverhead Capital Management LLC increased its position in BT Group plc by 624.8% in the third quarter. Riverhead Capital Management LLC now owns 5,900 shares of the utilities provider’s stock valued at $150,000 after buying an additional 5,086 shares during the period. Hedge funds and other institutional investors own 1.10% of the company’s stock.
About BT Group plc
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